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Unformatted text preview: Six-Hundred and 00/100 ****** Dollars at CIBC Bank for a value received with interest at 5.5% per annum. Signed _________________ Present Value of Promissory Notes This is the value any time before the legal due date. Need to know the maturity value first. There are two interest rates involved. Rate of interest on the note. (Used to determine the maturity value) Rate that money is worth to determine the present value. Be careful with the rates Treasury Bills Promissory notes (Non-Interest Bearing) issued by government. Denominations of $1,000, $5,000, $25,000, $100,000, and $1,000,000. Terms 91 Days, 182 Days, 364 Days T-bills are similar to non-interest bearing notes. They do not carry an interest rate, but are bought and sold on the open market....
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- Fall '05